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Thursday, August 30, 2012

10 Great Ways to manage your Money

Managing money may seem like a complex process if you
don’t know what you’re doing, but thankfully for Internet and financial
advisors, it isn’t that hard if you do proper research or ask the right people.
As you probably already know, managing your money is the path to future
success. With proper management, you can potentially retire early and
live stress-free everyday without having to worry about money every second day.
To help you get started and make the most out of your money, here are ten
tips to keep in mind:

#1
Grab a killer deal

It isn’t that hard to start saving money today.
Start learning when sales happen, shop at thrift stores and even
shop at the dollar stores for your cleaning supplies. You would be
surprised at how much you can save just by comparing prices on Internet.
Remember that every penny counts.

#2
Start using coupons

Food coupons are one of the best ways to save when it
comes to grocery shopping. You can do that simply by stacking a coupon on
top of a sale price. Resources such as CouponMom and AFullCup can both
help you produce killer coupon lists every week. Aside from going to the
grocery store, don’t forget to check local drug chains and warehouse chains.

#3
Get out of debt

There’s no reason to have any money on your credit
card now. Get into the habit of paying your card off in full. This
is a great way to not only avoid interest rates, but avoid other fees.
While there is nothing wrong with a credit card, you have to understand
that to take advantage you must use it the right way.

#4
Slash medical bills

Medical bills can be expensive, but they will only be
that way if you let them get that way. If you don’t have health
insurance, don’t be cheap! You’re one surgery away from being in
bankruptcy court. Make sure that you have some sort of policy, even
if it’s a highly deductible plan. Aside from insurance, also look into
prescription savings clubs and consider checking local schools to see if you
can get any procedures done at a discounted rate.

#5
Keep emergency money

If you don’t have six months worth of emergency money
saved up, why don’t you? Since you don’t want to be one pay check away
from disaster, it’s important to have that money set aside for a rainy day.
Find a high-interest money market account and start saving now!

#6
Haggle

With anything you buy, try to get a lower price.
Sure, while branded stores won’t bring down the price, it doesn’t mean
that you can’t haggle on anything else. This can include a car purchase, a used
electronic item on Craigslist or even the garage sale down the road.

#7
Plant a garden

If you have the yard to plant a garden, you may want
to consider it! If you think that growing a garden is hard, you may want
to think again. By growing a garden, you’re not only going to make
yourself a little healthier, it’s going to save you a lot of money at the
grocery store. With that garden, don’t forget to plant the herbs too!

#8
Plan ahead

It’s important to start saving for your retirement
today and if you haven’t done so, it isn’t too early to start! Whether
it’s an IRA or a 401(k), be sure to add as much money as you comfortably can
each month. If you have children, consider opening up a 529 account to
help prepare them for college.

#9
Watch your money

Every month, create a budget so that you can watch
where your money goes. Try to track every single dollar that leaves your
bank account. At the end of each month, make sure that you’re buying services
and things that you truly need. This exercise can also help with getting
rid of wasteful spending.

#10
Consider borrowing

Lastly, consider borrowing items instead of buying
them. For instance, rent a DVD at the local library. There’s no
reason to set out and buy a $30 DVD if you’re only going to watch it once.
The same can be said with a video game. Popular places such as
Redbox have rentals for as little as $1 a day.